Turkey’s Doğuş Expands into Iraq

Hurriyet Daily News reports that Doğuş Otomotiv, the automotive arm of Turkey’s Doğuş Holding, has said it has reached an agreement with Volkswagen and Audi to establish a company in Iraq.

Doğuş Otomotiv will own 100 percent of the company that will deal with distribution and after-sale services for Volkswagen and Audi cars in the country. The new company’s initial capital will be 150 million Iraqi dinars ($128,000).

The number of Turkish companies operating in Iraqi Kurdistan has more than tripled, to around 1500, since 2009.